Coronavirus (Scotland) (No.2) Act 2020

Financial criteria for minimal asset process

This section has no associated Explanatory Notes

9(1)The Bankruptcy (Scotland) Act 2016 applies in accordance with the modifications in sub-paragraph (2).

(2)Section 2 (sequestration of estate of living debtor) has effect as if—

(a)in subsection (2)(b)(ii), for “£17,000” there were substituted “£25,000”,

(b)after subsection (2) there were inserted—

(2A)For the purposes of subsection (2)(b), the amount of a loan made to the debtor is not to be regarded as a debt where the loan was made by virtue of regulations to which section 73B (regulations relating to student loans) of the Education (Scotland) Act 1980 applies..

(3)The modifications in sub-paragraph (2) apply in relation to a sequestration of a debtor’s estate only where the date of the debtor application is on or after the date on which this paragraph comes into force.